With the approval of the commission, the director may borrow money in the name of the bank in his possession and may pledge its assets as security for the loan.
S.D. Codified Laws § 51A-15-26
Borrowing money by director in possession
Source: SL 1933, ch 54, § 1; SDC 1939, § 6.0629; SDCL, § 51-14-25; SL 1969, ch 11, § 13.9; SDCL, § 51-27-18.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.